Alegre said the company plans to expand user access to its games and enable other companies to produce goods and events for Otherside. Since joining the company, he’s spent most of his time reorganizing Yuga to be more like a mainstream company, fleshing out each NFT collection into its own mini-franchise.
A lack of quality games that can compete with titles from established publishers has been a concern for Yuga and Web3 game makers in general, which Alegre wants to address. He said the company is currently debating whether to expand its brand beyond online and mobile games and into consoles.
According to a recent analysis by DappRadar, Yuga Labs, the inventor of the Bored Ape Yacht Club, continues to dominate the NFT industry, accounting for approximately 35% of total NFT trading volume for the six months from October 2022 to March 2023.
Yuga Labs purchased the CryptoPunks and Meebits NFT project property from original inventor Larva Labs in 2022, in addition to the Bored Ape Yacht Club and its affiliated collections, including the Mutant Ape Yacht Club and Otherside metaverse gaming land rights.
Dookey Dash, the company’s most recent game, earned remarkable average revenue per user stats. While the game was free to play as long as players had one of Yuga’s NFTs, money was made by selling passes to strangers and in-game add-ons. Alegre declined to provide exact details.
Part of Yuga’s appeal, according to Alegre, is that it’s worked hard to build a brand that attracts and keeps high-profile people engaged, something he says game developers have yet to do.
“Realistically, big game companies would need to fundamentally shake up their economic model to really think about how others can own part of the ecosystem,” he said.
Yuga Labs won a historic legal victory for Web3 last week when a federal court ruled in its favor against artist Ryder Ripps and ally Jeremy Cahen. The couple had created RR/BAYC, a spoof of Yuga’s endeavor, as a copycat collection of the Bored Ape Yacht Club.
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